Rhumbline Advisers Sells 1,278 Shares of Atkore Inc. (NYSE:ATKR)

Rhumbline Advisers cut its position in Atkore Inc. (NYSE:ATKR) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,240 shares of the company’s stock after selling 1,278 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Atkore worth $4,276,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after acquiring an additional 195 shares in the last quarter. Covestor Ltd increased its holdings in shares of Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares in the last quarter. KBC Group NV increased its holdings in shares of Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after acquiring an additional 469 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Atkore during the third quarter valued at about $126,000.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now owns 25,585 shares of the company’s stock, valued at $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.99% of the company’s stock.

Atkore Stock Performance

Shares of ATKR opened at $61.51 on Friday. The stock has a 50-day simple moving average of $77.31 and a 200-day simple moving average of $85.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock has a market capitalization of $2.14 billion, a PE ratio of 5.95 and a beta of 2.12. Atkore Inc. has a 1 year low of $60.53 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter last year, the company earned $4.12 EPS. The business’s quarterly revenue was down 17.1% on a year-over-year basis. On average, analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Tuesday, February 18th. Atkore’s payout ratio is currently 12.39%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ATKR. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Roth Mkm began coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. KeyCorp dropped their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.17.

About Atkore

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.